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bruneilawsby aturio
In force2024 Revised Edition
Contents

Part · Reserve Funds, Dividends, Balance Sheets and Information

33. Use of information, powers etc. for protection of depositors

(1)

If it appears to the Authority to be desirable to do so in the interests of the depositors or potential depositors of a relevant person, the Authority may also exercise the powers conferred by section 34(1)

and (4) in relation to —

(a)

any company which is or has at any relevant time been a parent or subsidiary undertaking of the relevant person or with which the relevant person is or has been otherwise closely linked; or

(b)

in relation to a partnership of which the relevant person is or has at any relevant time been a member or with which the relevant person is or has been otherwise closely linked.

(2)

In determining for the purposes of subsection (1), whether the relevant person is or has been closely linked with any other person, section 8(5) applies as it applies in relation to subsection (4) of that section except that for any reference in that subsection to the applicant there shall be substituted a reference to the relevant person.

Banking 44

(3)

References in section 32(7) apply also in relation to provisions of that section applied by this section.

(4)

In this section, “relevant person” has the same meaning as in section 32(8).

Report

Read on from s 34

Part

Prohibited Business

Read on from Part

Part

Minimum Assets Requirements

Read on from Part

Part 7

Read on from Part 7

Part

Overseas Branches and Representative Offices of Domestic Banks

Read on from Part

Part

Unclaimed Balances

Read on from Part

Part

Invitations to Make Deposits

Read on from Part

Part

General

Read on from Part

Schedules